So Young Sohn, Kyong Taek Lim and Bo Kyeong Lee

The biotechnology industry is a major contributor to the world economy. This study proposes technology credit scoring models that can be applied to fund industrial biotechnology and pharmaceutical development firms, respectively, based on technology-oriented attributes, as well as firm-specific and economic attributes. The results of the logistic regression analysis show that the technology and marketability factors play the most important role in industrial biotechnology, while management factors and firm-specific characteristics are influential for loan default in pharmaceutical companies.